Entergy Corporation (NYSE:ETR) Stock Holdings Boosted by First American Bank

First American Bank increased its position in Entergy Corporation (NYSE:ETR - Free Report) by 32.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,106 shares of the utilities provider's stock after buying an additional 8,750 shares during the period. First American Bank's holdings in Entergy were worth $3,087,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ETR. Vanguard Group Inc. grew its holdings in Entergy by 101.9% in the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock valued at $3,952,773,000 after purchasing an additional 26,312,267 shares during the period. Bank of America Corp DE grew its holdings in Entergy by 142.8% in the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after purchasing an additional 10,347,926 shares during the period. FMR LLC grew its holdings in Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock valued at $956,273,000 after purchasing an additional 5,998,760 shares during the period. Ameriprise Financial Inc. grew its holdings in Entergy by 71.4% in the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after purchasing an additional 5,368,396 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Entergy by 106.2% in the fourth quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider's stock valued at $774,103,000 after purchasing an additional 5,271,559 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. BMO Capital Markets boosted their price objective on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Morgan Stanley decreased their price objective on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research note on Wednesday. KeyCorp upgraded shares of Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price objective for the company in a research note on Wednesday, May 14th. Finally, Raymond James Financial assumed coverage on shares of Entergy in a research note on Friday, June 13th. They set a "market perform" rating for the company. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Entergy has an average rating of "Moderate Buy" and an average target price of $86.25.

Entergy Stock Up 0.1%

ETR traded up $0.07 during trading on Friday, hitting $80.99. The company had a trading volume of 7,933,944 shares, compared to its average volume of 3,595,709. The company has a market cap of $34.89 billion, a PE ratio of 26.30, a P/E/G ratio of 2.21 and a beta of 0.60. The business has a 50-day moving average of $82.68 and a 200-day moving average of $81.39. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.82 and a quick ratio of 0.55. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.22. The company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.13 billion. Entergy had a net margin of 11.26% and a return on equity of 11.43%. During the same period in the prior year, the company earned $0.54 earnings per share. As a group, analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were given a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.96%. Entergy's dividend payout ratio is currently 77.92%.

Entergy Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.